Risk Of Mortgage App Fraud UpOver the past year, the risk of bad information being submitted on mortgage applications has worsened. Florida high-rise condominiums are an especially risky category.

Pending Home Sales Plunge to 3-Year LowWith the Northeast leading the way, the inventory of single-family properties that were under contract last month fell to the lowest level in over three years.

23-Month Low for Freddie's New BusinessNew monthly business fell to the lowest level in nearly two years at the Federal Home Loan Mortgage Corp. Serious delinquency on residential loans, however, improved.

PHH Mortgage Production Sinks, Servicing DownQuarterly home-lending activity at PHH Mortgage tumbled, while the servicing portfolio has been cut to just a fraction of its year-earlier size. Good news is that losses were slashed.

Home Purchases Drive Up Mortgage ApplicationsNew weekly applications for home loans increased, and the escalation in activity was due to an increase in home purchase financing. Government share was the widest it's been in five weeks.

Ocwen Acquiring PHHA deal has been reached for Ocwen Financial Corp. to acquire the parent of PHH Mortgage Corp. The merger is intended to bring more scale to Ocwen.

Several Mortgage C-Suite ChangesSeveral mortgage banking firms have reported turnover in their C-suites. In addition to changes at the top, several other companies have made some mid-level management changes.

Northeast Leads New Home Sales SlumpNew home sales in the Northeast led a national month-over-month decrease last month. While opinions vary on why sales were down, the outlook is optimistic. The supply of new homes for sales was the greatest since 2014.

Mortgage Biz Up From Yr Ago, Rate-Term Share SinksCompared to a year ago, more borrowers locked in rates on their home loans this holiday week. A slowdown in refinance activity continued, with rate-term transaction share at its most narrow point on record. Government business also saw a big decline.

Mortgage Apps Slump, Gov Share Down AgainAlthough mortgage applications turned lower last week, purchase activity has improved on a year-over-year basis. For the fifth consecutive week, the share of government applications has fallen.

Best Mortgage Employers of 2018Five mortgage-related companies were rated among the country's 100-best employers by their workforce. The top-rated mortgage firm has made the list each of the last 15 years.

Supreme Court Deals Blow to GSE InvestorsThe Supreme Court has denied a request by speculative investors in the government-sponsored enterprises to reconsider a case against the government. The decision could open the door to an initial public offering.

Alternative Valuations Could Hurt RMBS QualityIncreased utilization of alternative real estate valuations could have a negative impact on the quality of residential mortgage-backed securities. But there are some positives to the shift.

2-Year Outlook for Home Lending CutThe expected volume of residential loan originations has been cut by $56 billion for this year and next year. Last year's refinance estimate, meanwhile, has been boosted.

Hilltop Holding's Home Lending FallingHome lending volume turned lower in the final quarter of last year at Hilltop Holdings Inc., and a more sharp decline is likely ahead. Overall earnings increased, but mortgage income fell.

Mortgage Rates Jump to Nearly 4-Year HighInterest rates on residential loans continued to rise, this time to the highest level in nearly four years. The outlook is for continued escalation over the next week.

Record Business at National M.I.Quarterly business ascended to an all-time high at National Mortgage Insurance Corp. As the book of business grew, so did delinquency.

Northeast Holds Back Builder ConfidenceIncreased sales expectations among home builders offset diminished confidence about current sales conditions. The Northeast was the only region with deterioration.

Ginnie MBS Issuance Slowest in 10 MonthsSecuritizations on behalf of the Government National Mortgage Association decreased to the lowest level in 10 months. The company's book of business is nearing $2 trillion.

Fannie to Request Funds from Treasury on LossAfter-tax losses at the Federal National Mortgage Association will result in a request for funding from the Department of the Treasury. Single-family refinance volume sank last year.

Bids Sought for Agency MSRsAn auction is being conducted for the sale of mortgage servicing rights on agency single-family loans that have a West Coast concentration.

Mortgage Broker Group LaunchesA new trade group was launched for mortgage brokers with plans to bolster wholesale market share. Over a thousand people joined the first morning. The group's inaugural convention takes place in Sin City.

Tax Law Cuts Into PACE Loan DemandChanges in the tax law could reduce demand for the controversial Property Assessed Clean Energy Loans, according to a new ratings agency report.

Agency MSR Offering Has NY ConcentrationAn offering of servicing rights on a portfolio of nearly $800 million in agency home loans has a concentration of properties that are located in the Empire State.

HUD Funding Up In Trump's Budget ProposalPresident Donald J. Trump's federal budget proposal moves some expenses to the states and has deficits continuing to expand over the next two years. Funding for the Department of Housing and Urban Development has been increased from last year's proposal, while more activity is expected from the Government National Mortgage Association.

Regulation Reduction Continues at CFPBThe latest request for information from the Consumer Financial Protection Bureau marks the third in the past month as the Trump administration continues to reduce regulation on financial services providers.

Mortgage Events Added to Conference CalendarSeveral mortgage-related conferences, events and meetings have been added to Mortgage Daily's Mortgage Conference Calendar. The housing finance system, regulation and reverse mortgages are among the topics to be covered.

Name Change Ahead for Walter InvestmentIn addition to changing its chief executive officer, Walter Investment Management Corp. will change its name. The company has updated the date it expects to emerge from bankruptcy.

FHA Res Business Down, Delinquency UpMonthly and annual residential business at the Federal Housing Administration retreated as delinquency deteriorated. But in its commercial real estate business, activity ascended.

New Penn Names New PresidentThe new president of New Penn Financial LLC was promoted from within the company. The move comes in the midst of the home lender being acquired.

Jumbo Out Front of Loosening in Mortgage CreditCredit conditions in home lending relaxed last month to the most accommodative levels since the financial crisis. The loosening, led by jumbo, came just one month after contracting to the tightest level in five months.

SunTrust Announces New Mortgage ChiefThe head of the home-lending business at SunTrust Banks Inc. is leaving the company, and a mortgage executive from a rival company has been hired as her replacement.

CEO Leaving Bankrupt Walter InvestmentWalter Investment Management Corp., which revealed that it will linger longer in bankruptcy than originally planned, has disclosed the upcoming departure of its chief executive officer.

CMBS Delinquency Down 6 Months in Row to 8-Yr LowIn addition to retreating for six consecutive months, delinquency on securitized commercial real estate loans now stands at the lowest level in more than eight years. Retail loans led the latest drop.

Freddie, Ginnie MBS Issuance Lowest in 9 MonthsAlthough securitizations have risen for three consecutive months at Fannie Mae, issuance at its two agency counterparts fell to the lowest levels in at least nine months -- pulling down overall activity.